North Macedonia vs Serbia: Economic Indicators Comparison

Serbia with a GDP of $50.6B ranked the 84th largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Serbia and North Macedonia ranked 131st vs 110th and 90th vs 100th, respectively.

Gross Domestic Product & Income

StatNorth MacedoniaSerbia
GDP$12.7B$50.6B
GDP growth, 1 year2.7%4.4%
GDP growth, 5-years average2.6%2%
Population2.1M7M
GDP per capita$6.1k$7.2k
GDP per capita growth2.62%4.97%
Purchasing Power Parity conversion factor19.3841.64
Price level ratio of PPP conversion factor GDP to market exchange rate0.370.42
GDP per capita, PPP adjusted$16k$18k
GNI, Atlas method$11.4B$44.6B
GNI per capita$5.5k$6.4k
GNI, PPP adjusted$32.6B$115.5B
GNI per capita, PPP adjusted$16k$17k

Financial system and Human development

StatNorth MacedoniaSerbia
Income Tax Rate10%10%
Corporate Tax Rate10%15%
Inflation, consumer prices1.5%2%
Inflation, GDP deflator4.3%2.1%
Unemployment21.6%13.5%
Economic Freedom Index69.566
Personal Freedom Index8.177.84
Human Freedom Index7.557.19
Property Rights Index62.555.4
Judical Effectiveness Index42.746.8
Business Freedom Index80.672.6
Fiscal Health Index87.794.1
Labor Freedom Index6766.9
Investment Freedom Index6570
Financial Freedom Index6050
Trade Freedom Index86.278
Monetary Freedom Index77.780.7
Government Spending Index7149.7
Tax Burden Index91.583.7
Government Integrity Index42.244
Corruption Perceptions Index3739
Life expectancy at birth, years75.676.1
Suicide mortality rate, per 100,000 people7.915.6
Mortality caused by road traffic injury, per 100,000 people6.47.4
Intentional homicides, per 100,000 people1.51.1
International tourism, number of arrivals707k1.7M

Government debt & reserves

StatNorth MacedoniaSerbia
Central government debt, % of GDP39.5%54.3%
External debt stocks, % of GNI72%71.7%
External debt stocks$8.7B$34.3B
Short-term debt, % of total reserves40.9%16.4%
Total debt service, % of exports and primary income16.6%22.3%
Adjusted net savings including particulate emission damage, % of GNI15.4%-3.2%
Gross savings, % of GDP33%18.6%
Gross capital formation, % of GDP33%22.7%
Total reserves including gold$3.3B$12.9B
Foreign direct investment net inflows$648.7M$4.1B

Exports, imports and economic structure

StatNorth MacedoniaSerbia
Exports of goods and services, % of GDP60.3%50.8%
Imports of goods and services, % of GDP72.9%59.3%
Current account balance (balance of payments)-$25.6M-$2.6B
Revenue excluding grants, % of GDP26.8%32.8%
Grants excluding technical cooperation, BoP$133.8M$334.6M
Personal remittances received$344.5M$4.3B
Industry including construction value added, % of GDP23.6%25.5%
Agriculture, forestry and fishing value added, % of GDP7.2%6.3%
Charges for the use of intellectual property, payments BoP$188.8M$289.7M
Charges for the use of intellectual property, receipts BoP$11.8M$57.9M
Expense, % of GDP27.9%36.9%
Government Expenditure, % of GDP31.1%40.9%

Compare with countries close by GDP per capita

North Macedonia vs

CountryGDP
per capita
Population
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k

Serbia vs

CountryGDP
per capita
Population
Kazakhstan
$9.8k
18.3M
China
$9.8k
1.41B
Mexico
$9.7k
131M
Turkey
$9.4k
82M
Bulgaria
$9.3k
7M
Brazil
$8.9k
210M
Montenegro
$8.8k
622k
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M